Old Mutual acquires full ownership of AIIM

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Old Mutual acquires full ownership of AIIM

Old Mutual Alternative Investments (OMAI), part of the Old Mutual Investment Group, has acquired full ownership of African Infrastructure Investment Managers (AIIM).

OMAI already owned 50% of  AIIM and has acquired the remaining 50 % stake. The transaction makes the company the exclusive shareholder of the pan-African investment firm.

Founded by Macquarie and Old Mutual, in 2000, AIIM has evolved to become one of Africa's leading infrastructure investment managers.

With offices in South Africa, Nigeria and Kenya, AIIM has extensive experience in developing, creating, advising and managing private equity infrastructure funds. AIIM has a portfolio of US$1.2 billion (as at 30 June 2015) in equity under management across five infrastructure funds. The funds are designed to invest long-term institutional unlisted equity in African infrastructure projects.

Paul Boynton, CEO of OMAI, stated:

"The global alternative investment industry is estimated to be worth around $13 trillion by 2020, and is predicted to be the fastest growing segment of the asset management industry globally over the next 10 years. In addition, the African market is becoming increasingly attractive to global investors and as an established pan-African asset manager, AIIM is ideally positioned to capitalise on this key growth sector."

"We are excited about the ownership of a business which has shown an excellent track record for investors over a 15-year period. AIIM is recognised as one of Africa's market leaders in infrastructure transaction execution and asset management and is increasingly seen as a partner of choice by infrastructure investors and developers alike. We couldn't have asked for better results from AIIM when we first established the joint venture with MIRA and we are excited about the investment pipeline AIIM faces and the opportunity we see to deploy investor capital for attractive returns."

Jurie Swart, CEO of AIIM, commented:

"We have enjoyed a strong and fruitful relationship with MIRA for 15 years, and this transaction is a mutual decision by the shareholders to give AIIM the optimal structure to support its future growth. Africa is still climbing the agenda for investors worldwide and we are excited about the opportunities presented by the alignment of the Old Mutual and AIIM strategies to capitalise on this growth."

"We remain an autonomous business, as we have been since inception in 2000. AIIM will continue to create value for investors, while making a tangible contribution to African economies and communities. AIIM has established local offices in South Africa, Nigeria and Kenya and the depth of knowledge and experience within the AIIM team is exemplary."

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